The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same five investor questions from their SEC filings — so the comparison is apples to apples. The method is fully public.
WTRG · Utilities · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
NEE · Utilities · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | WTRG | CWST | NEE | LNT |
|---|---|---|---|---|
| Moat Score (0–100) | 42 | 43 (highest) | 43 (highest) | 42 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 86 (highest) | 74 | 74 | 58 |
| Pricing power | — | 58 | — | 100 (highest) |
| Returns on capital | 4 | 5 (highest) | 3 | 3 |
| Balance-sheet safety | 2 | 17 | 40 (highest) | 0 |
| Capital discipline | 77 (highest) | 60 | 53 | 48 |
| Price vs. high estimate | No price data | 1084% above high estimate | 49% above high estimate (largest discount to high estimate) | 148% above high estimate |
| Market cap | — | $5.9B | $183.3B | $19.0B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |